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Momo App Receives $40 Million in Funding, Is Alibaba Involved?

Willis Wee
Willis Wee
9:39 pm on Aug 23, 2012

momo-app

We have been covering the Beijing-based flirtatious location-based Momo app for awhile now. And now there’s news from Sina Tech that the startup has received a whopping $40 million in series B funding. That puts its valuation, speculatively, to at least over $100 million. There were rumors stating that Alibaba was involved in this round of funding but an Alibaba representative declined to comment:

As a matter of company policy, we do not comment on speculation or rumors.

That’s not a denial, but it’s hardly a confirmation either.

So far the app has seen quite a bit of traction. We first reviewed it in December 2011, and by March of this year, the app had over two million users. It reached 10 million users in early August and according to its homepage counter, there are over 11 million users right now.

On average, Momo is growing at the impressive rate of one million users per month. At that pace it could potentially hit 15 million at the end of 2012 — or perhaps it could go even higher now that there’s $40 million in its war chest.

Source: Sina Tech


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Have Your Say
  • justinchina

    oh, another mobile app in China that helps you find prostitutes faster. awesome.

  • Ajunhrim

    Prostitutes on Momo often brand themselves as “Doing part-time jobs”, which seems to imply that they are not professional pros but are people who do it once for a while to earn some moonlight. As a matter of fact, the prostitues on Momo are shockingly overvalued—the prices being non-negotiable, what you see in their photo albums are pictures of unknown models downloaded online. With all these, I wonder if that sounds like a good idea at all.